91精品啪,久久超碰在线

Electronics giant Gome to raise $417M

(Agencies)
Updated: 2009-06-22 20:28

HONG KONG: China's Gome Electrical Appliances will raise at least $417 million through an investment from US private equity firm Bain Capital and a share sell, a move that could help shore up the retail electronics giant scandalized by a corruption probe.

Under the deal, Bain will buy $233 million in bonds that can be converted into an equity stake of 12.8 percent in Gome, the country's largest consumer appliance retailer, the company said in a statement Monday.

The initial conversion price would be $1.18 Hong Kong dollars per share, about 5.4 percent over the company's stock price before it was suspended November 24.

Gome will also offer new shares, to be underwritten by Bain, at a 60 percent discount to the share's last price.

GOME's Chairman and President Chen Xiao (L) shakes hands with Bian Capital Managing Director Jonathan Zhu during a news conference in Hong Kong June 22, 2009. [Agencies]

In all, the deal is expected to net Gome at least $417 million in fresh capital and give Bain an equity stake between roughly 10 percent and 24 percent.

Bain's investment would afford it three seats on Gome's board of directors. The board now has 11 directors.

The move is seen as a way to help tide the company over amid the global economic crisis and a corruption probe centered on its founder and wealthy ex-chairman, Wong Kwong-yu.

Wong has been detained since last fall. Gome's CEO, Chen Xiao, replaced Wong as chairman.

Gome said an audit confirmed the "sound foundation" of its internal controls and corporate governance.

国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频